One Year Later: Inflation Reduction Act Is Lowering Costs for Virginia Families

RICHMOND, Va. — Freedom Virginia today celebrates the one-year anniversary of the passage of the Inflation Reduction Act (IRA), a landmark victory for Virginia families in every corner of our Commonwealth.

The law is bringing down healthcare and energy costs for Virginians and people across the country. Below are highlights of how the IRA is saving families money:

Bringing Down Healthcare Costs

  • Helps over 300,000 Virginia residents who purchase healthcare through the Marketplace save an average of $850 a year through the continuation of the Affordable Care Act subsidies.

  • Penalizes pharmaceutical companies if they increase prescription drug costs faster than inflation.

Bringing Down Energy Costs

“Thanks to the Inflation Reduction Act, hardworking Virginians now can keep more of what they earn,” said Freedom Virginia Executive Director Rhena Hicks. “We need to build off of the progress that Democrats have made at both the state and federal levels and continue to lower costs for families. Here in the Commonwealth, we can do that with a Prescription Drug Affordability Board. Unfortunately, Virginia House Republicans killed SB957, which would have established the Board, while Republicans in Congress have threatened repeal of the Inflation Reduction Act. We need legislators in Richmond and in Washington who will side with Virginia families over Big Pharma.”

Brigid Godfrey

Brigid Godfrey

Communications Director

Help get the word out by sharing


Yes Virginia, the Senate has passed a budget

After months of deliberation, the Virginia General Assembly passed their 2022-2024 biennial budget June 1, making several noteworthy investments in middle-class families. The budget passed in the Senate on a

Workers Deserve a More Affordable Virginia

RICHMOND, Va. — In honor of Labor Day, Freedom Virginia Executive Director Rhena Hicks today issued the following statement renewing the organization’s call for an economy in which all hardworking people can thrive: “Today